DelGato Clinic deposits all cash receipts on the day when they are received and makes all cash payments by check. At the close of business on June 30, 2008, its Cash account shows an $15,047, debit balance. Del GatoClinic's June 30 bank statement shows $14,895 on deposit in the bank on that day. Prepare a bank reconciliation for Del GatoClinic using the following information: a. Outstanding checks as of June 30 total $2,579. b. The June 30 bank statement included a $95 debit memorandum for bank services. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. DelGato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598. d. The June 30 cash receipts of $2,645were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.
DelGato Clinic deposits all cash receipts on the day when they are received and makes all cash payments by check. At the close of business on June 30, 2008, its Cash account shows an $15,047, debit balance. Del GatoClinic's June 30 bank statement shows $14,895 on deposit in the bank on that day. Prepare a bank reconciliation for Del GatoClinic using the following information: a. Outstanding checks as of June 30 total $2,579. b. The June 30 bank statement included a $95 debit memorandum for bank services. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. DelGato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598. d. The June 30 cash receipts of $2,645were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:DelGato Clinic deposits all cash receipts on the day when they are received and makes all cash payments by check. At the close of business
on June 30, 2008, its Cash account shows an $15,047, debit balance. Del GatoClinic's June 30 bank statement shows $14,895 on deposit in
the bank on that day.
Prepare a bank reconciliation for Del GatoClinic using the following information:
a. Outstanding checks as of June 30 total $2,579.
b. The June 30 bank statement included a $95 debit memorandum for bank services.
c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. DelGato Clinic
mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598.
d. The June 30 cash receipts of $2,645were placed in the bank's night depository after banking hours and were not recorded on the June 30
bank statement.
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